Bharti Airtel today completed the acquisition of a 74 per cent stake in Augere Wireless, which holds 4G spectrum in Madhya Pradesh, as the nation’s top telecom carrier consolidates its 4G footprint to compete with Vodafone, Idea and Reliance Jio in high-speed Internet services.
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“With reference to the sooner intimation dated December 29, 2015, Bharti Airtel Ltd has now knowledgeable BSE that Airtel has acquired remaining stability paid-up share capital ie 26% of Augere and with the stated acquisition, Augere has develop into an entirely-owned subsidiary of Airtel”, the corporate stated in a regulatory submitting.
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Airtel had launched India’s first 4G service in Calcutta in 2012, but hasn’t seen much demand. Augere, owned by France Telecom and private equity funds such as Harbinger Capital and New Silk Route, had won 20 MHz of 4G spectrum in the 2300 MHz band in the Madhya Pradesh-Chhattisgarh circle in the 2010 auction. According to industry sources, it is estimated that the deal size can be somewhere around Rs 150 crore. A person familiar with the matter told ET that Vodafone India has discussed “purchase of all” of Tikona’s airwaves in the 2300 MHz band, which would help double the geographical 4G presence of the local unit of UK’s Vodafone Group Plc from its current five circles. Currently, Bharti Airtel has 4G spectrum in 15 circles (combination of 1800 and 2300 MHz band).
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Vodafone India is reportedly in talks with Tikona Digital Networks for buying its 4G spectrum.
Airtel had also acquired BWA spectrum licence from Qualcomm in October 2013 through which it provides 4G services in Mumbai, Delhi, Haryana, and Kerala.
Airtel’s shares closed at Rs 334.45 on the BSE on Tuesday, up one per cent from the previous close.
India’s largest telecom service operator in terms of subscribers, Airtel has now 20MHz in 2,300MHz band across nine service areas.
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Airtel has already launched 4G services across 350 towns and cities in India. Notably, Idea Cellular had earlier bought 4G bands from the latter for the Gujarat and UP (West) circles for Rs 3310 crore.
